QLD First IP - Redlands or Moreton Bay

Hi - I'm a newbie here. I'm looking to buy my first IP and my budget is $750k. The options i'm considering are 3-4 bed houses with smaller land component (400 sqm) in Ormiston/Cleveland or houses with larger land component (600 sqm) in Bray Park/ Strathpine/ Kallangur. Which of these options would be better in the long run for capital growth. i'm hoping to use use equity from this property to buy my next IP in 3-4 years.
I'm leaning towards Cleveland/ Ormiston as it seems to offer better rental returns. It doesn't seem to have had the crazy 30+% price growth that Moreton Bay has had over the last year so hoping it will grow at a decent rate over the next 3 to 5 years. Open to hearing suggestions.

Thanks in advance.

 

You need to do own research and make your own best guess. There is no on e that will guarantee which is better and is so many variables anyway.

 

Moreton Bay.

That entire council has come leaps and bounds. ALOT of gentrification happening and ALOT of money pouring into these areas.

 

Do you have IP/s there ?

 

Hi,

I would say try to get around the Wynnum West, Tingalpa, Belmont or Wakerley pocket. Your inner city buyer is compromising with location and moving down the line from Cannon Hill and Carina.
These properties will jump for $750k to $900k in the space of 6months. I know this because I am a local buyer's agent and I attend open homes every weekend.

 

Did you end up moving forward with either option? In the current market, I would lean more towards the Cleveland area. Higher rents, higher quality demographic of people. More scare location being closer to the water. Raby Bay gives the area a premium feel and the new Toondah Harbour development will add a lot to the area once complete.

To give an example, take a look at 5 Ostend Court, Cleveland. Purchased for $850,000 and just secured a tenant at $850 a week. Close to train station, shopping centre and the new Toondah Harbour Precinct.

 

What a great way to lose money jumping in to there now !

Do they even know how expensive the rates are outside BCC and the water, the place is awash with water and they charge so much !

This is a poor proposition at this juncture in the market.